Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
brookieboy69,
“New deal from China comes in for Amur - a whopping 5p”
It’s funny before the war started, there was speculation about a deal that would return around the 6pps, at that time if that was recommended by the BOD, I think many shareholders, including myself, would have turned down the deal!! How things have changed ;( . I would snap your hand off for 5pps that!!!
That was a large transaction 3.5m shares!! looks like a buy to me, and NOT a rollover.
I must be losing it, I have started to comment on trades now!! AMC come on, give a dog a bone!!
Oh I see what you mean, nice idea, not sure how accommodating the buyer will be to do that also at some point amc will still need to deposit the cash and the banks will do their checks .
EIDR -- made me chuckle.................
Hello MadMat
Just wanted to understand what you mean.
There has been no indication that the buyer cannot stump up the cash, the issue is, AMCs banks (assuming the banks are within the UK jurisdiction) are currently performing DD/KYC on the money that AMC wishes to deposit. To my understanding, the DD/KYC will include such things as money laundering and sanction checks on the buyer.
Things such as:
- Who the buyer is (even though the buyer may not be on the sanction list they may have some links to people who are!! )?
- Where the money from the buyer has come from? so on and so on.....
Even if RY gets a bag full of $100 notes that = $35m he will still need to deposit it somewhere unless he keeps it under his bed!!
......
This is my understanding anyway
Jezzac ;)
That being said, my kids write to Santa every year, they always get a reply!! Here's hoping!!!
Maestro1
Apologies for the late reply, I have recently contacted AMC via email regarding any updates, Mine Plan deadline concerns, and a plan B/C if the banking solution fails. No response yet.
A response would be nice but don't expect one in a timely manner.
Unlike some, I do believe they have approached banks in response to completing the transaction and the delays are within the banking systems.
If I get a response I will post.
Hello Maestro1
Did RY tell you that at agm?
No.
The june date for the mine plan was in the Feb 2021 RNs
Whether the deadline is paused due to the sale is anyone's guess.
Think the deadline for the mine plan is in June 2023!!
Sorry guys, turned up late to the meeting, no chance to ask questions!!
Did meet Eidr who updated me on the meeting. To be honest was more interested in the characters he has met from the lse board!!!
I will summarize what eidr told me which I think maybe useful. Eidr if I have misrepresented what was said than please correct.
1. Russian requirements to complete the deal has been signed off and done. No delay there
2. Buyer still wants the deal to go through
3. AMC are in communication with multiple banks to transfer money. Banking issue could be resolved anytime, it's out of their control.
4. RTO opportunities still being investigated, some of them go back to the Nathan river days, but nothing concrete until money is received.
5. When the div is paid is still unknown.
6. If the banking issue still a concern than could look at a Cyprus banking solution.
7. Eidr to buy the rounds in if the deal goes through.!!
Useless update really , but there you have it.
Eidr thanks for the chat, see you in the next AGM!!
MD
I am planning to go, although waiting for HL to send me what I need to attend, will report as requested.
MD, if AMC is still alive, I will be there, I will bring popcorn!!!!
EIDR- usually I contact HL (or however the nominee is) via a secure message to say I wish to attend the AGM. Normally they send you a letter signed providing proof to the company at the meeting that you are a valid shareholder, this letter allows you entry.
If that is the case Gazzleberry, that would be a good reason for me to attend and voice my concerns, putting it politely!!
It's a good point, -- I, too, expect, the deal to be completed by then!!
Was hoping to glean anything from the team regarding the RTO, and the future, has the BOD got anything left in the tank for me to keep my holding after the div is paid!!
Haven't been to one in ages. Time to look RY in the eyes (trying not to poke them into his skull ) and see what he has got left!!
Trying to seek any positives from the RNS
1- "Amur and Bering are keen to complete the sale" stated in the RNS
2- advancing to the stage where the bank was performing their DD means at that moment in time completion was imminent and money was about to be transferred imo.
3- maybe a opportunity to add more at a lower sp! If you have balls or ovaries the size of melons!!
Good luck all!!
Maybe of interest
https://www.charteredbanker.com/resource_listing/cpd-resources/the-role-of-kyc-when-it-comes-to-sanctions.html
I hope that the 'personal guarantee ' still stands for this deal too!!!! You cannot go back on your word Vladislav Sviblov, it's been RNSed!!!!
The completion of the deal is a huge milestone and price-sensitive one, therefore an RNS is expected with some kind of statement regarding the monies being paid in 5 days' time after the completion.
OblastTigers does make a good point regarding any collapse of the deal will have to be RNSed, but we cannot assume the deal is 'completed' because it hasn't collapsed.
What is everyone’s trading strategy on this
Assuming completion/money received -> SP around 2.1p (conservative estimate).
After the announcement is made
1- “Get the F*ck out while you can you fool”:- Trade all shares for 2.1p, therefore no AMC skin in the game and move on.
2- “You think you're pretty smart!!”:- Trade all shares for 2.1p, wait to see if SP falls and buy back in lower (before ex-div date)………...
3- “Seriously, you are not very smart!!”:- Wait for div @ 1.8p to be paid (up to 90days), then sell shares (see what value the market thinks of what is left, hopefully not lower than 0.3p).
4- “You deserve to lose it all”:- Receive div @ 1.8p and keep the shares to see what the BOD can do.
5- “The completion is not going to happen/BOD will screw you over”:- sell now and stop adding!! sell sells sell
Some will say I am crazy, but I am hedging towards option 4. The main reason is, over the years of accumulating I have built up largish holding, maybe only chance to have such a large holding in a company.
Not sure if 2 and 3 end up being the same !!
One hopes that the AMC team are not all sitting there with an abacus working out the tax implications for shareholders and are actively looking out viable RTO opportunities!!
Compared to BION, AMC is more attractive as they will have more money in the bank (after the div payout). what is interesting about BION is that they have around £504K in cash and cash equivalents, yet their market cap is £1.1m.